Ultimate Oil & Gas

What Ultimate Oil & Gas does

Ultimate Oil & Gas (legal name: Ultimate Oil and Gas DMCC) is the offshore trading arm of Rahamaniyya Group, headquartered in the Dubai Multi Commodities Center free zone. The company trades crude oil and refined petroleum products — including bitumen, fuel oil, gas oil, jet fuel, kerosene, gasoline, and LPG — across West Africa, Europe, the Middle East, GCC, and South Asia. It serves enterprise counterparties including electric utilities, refineries, national oil companies, and private oil companies, and operates through three functional divisions (Chartering, Marine Operations, Cargo Operations) plus a Trade Finance unit offering deferred payments, cash-and-carry, and facility management at power plants.

The business is supported by the Eka Digital Commodity Management Platform, a third-party cloud solution providing Mark-to-Market, position, risk, and monitoring capabilities across trading operations. Onshore, Ultimate maintains wholly-owned subsidiaries in Gambia, Senegal, Mali, Ivory Coast, and Liberia, which handle import, storage, and distribution. These subsidiaries draw on Rahamaniyya Group's broader physical infrastructure, including the Apapa depot in Lagos (jetty capable of receiving 25,000 MT vessels, 90 million litres of storage) and a 250-truck transport fleet.

Revenue is generated primarily through physical commodity trading on a transaction-fee/margin basis, supplemented by trade finance and chartering services. Key counterparties and partners include NNPC (under the 2019 DSDP contract with Mercuria and Matrix), Portland Shipping DMCC, AFREXIM, and multiple international banks (Zenith, Access, Stanbic, Societe Generale, ING, NATIXES, Union Bank). The firm runs a risk-managed trading book and is led by CEO Kanwar Ratra with Alhaji Abdulrahman Bashar as Chairman.

Name

Ultimate Oil & Gas

Legal name

Ultimate Oil and Gas DMCC

Website

https://ultimateoilngas.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Ultimate Oil & Gas is the Dubai-based offshore trading arm of Rahamaniyya Group, trading crude and refined petroleum products across West Africa, Europe, the Middle East, and South Asia for utilities, refineries, and national oil companies via integrated trading, chartering, and trade finance services.

Ownership category

akta.pro rank

Product category

Petroleum Trading Services

NAICS

Marine Cargo Handling (488320)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Marine Bunkering & Port Fuel Supply (EUALAIAG)

akta.pro secondary industry

Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH)

Keywords

• Crude oil trading
• Petroleum products trading
• Marine chartering services
• Oil trade finance
• Commodity shipping logistics

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Offshore Trading: Trading of crude oil and refined petroleum products (Bitumen, Fuel Oil, Gas Oil, Jet Fuel, Kerosene, Gasoline, LPG) through Dubai-based operations targeting West Africa, Middle East, Europe, and South Asian markets.
2. Onshore Trading: Distribution and storage operations across Africa with subsidiaries in Gambia, Senegal, Mali, Ivory Coast, and Liberia, leveraging logistics networks and storage warehouses for product transportation.
3. Trade Finance: Innovative financing solutions including deferred payments, cash and carry, close to client side financing, and facility management at power plants for both offshore and onshore customers.
4. Chartering Operations: Spot charters, time charters, and Contract of Affreightment (COA) for marine vessel chartering with associated post-fixture marine operations.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Ultimate Oil & Gas DMCC is a Dubai-based offshore oil and gas trading company that sources, procures, ships, and trades crude oil and refined petroleum products including bitumen, fuel oil, gas oil, jet fuel, kerosene, gasoline, and LPG across Africa, Europe, the Middle East, GCC, and South Asia. The company also delivers trade finance solutions, chartering and marine operations, and onshore distribution through regional subsidiaries.

Product overview

Ultimate Oil & Gas is a full-fledged oil and gas trading company operating as the offshore trading arm of Rahamaniyya Group, headquartered in Dubai Multi Commodities Center. The company offers a portfolio of products including Bitumen, Fuel Oil, Gas Oil, Jet Fuel, Kerosene, Gasoline, LPG, and Crude Oil sourced from West Africa, traded across Africa, Europe, Middle East, and South Asia. Its service portfolio comprises three operational divisions (Chartering Operations, Marine Operations, and Cargo Operations) for end-to-end servicing from sourcing to shipping, complemented by Trade Finance solutions with relationships with major international banks. The company maintains onshore trading subsidiaries across Gambia, Senegal, Mali, Ivory Coast, and Liberia, and runs a risk managed trading book focused on preserving stability for clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Offshore Trading
• Onshore Trading
• Trade Finance
• Chartering Operations
• Marine Operations
• Cargo Operations
• Crude Oil
• Bitumen
• Fuel Oil
• Gas Oil
• Jet Fuel
• Kerosene
• Gasoline
• LPG (Liquefied Petroleum Gas)

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Nigerian National Petroleum Corporation (NNPC)coreStrategic or Co-development Partner · 1 November 2019Conclusion of NNPC DSDP (Differential Sampling and Distribution Program) contract in London, November 2019, with Mercuria, Matrix, Rahamaniyya Oil and Gas and Ultimate team.
• Eka Software SolutionscoreTechnology or IntegrationEka provides Ultimate Oil & Gas with their Digital Commodity Management Platform for managing complete trading operations. The cloud-driven platform enables real-time visibility, position tracking, risk monitoring, and Mark-to-Market capabilities across all business operations.
• Portland Shipping DMCCcoreStrategic or Co-development PartnerStrategic shipping partner with documented office inauguration in Dubai in December 2019. Provides marine chartering and shipping services.
• Rahamaniyya GroupcoreStrategic or Co-development PartnerParent company and Ultimate Group. Founded in October 2003, Rahamaniyya Group's specific focus is on the Nigerian market and Sub-Saharan West Africa downstream sector. Large depot at Apapa in Lagos with jetty and 90 million litre storage capacity.
• Gam Petrol (Madinari, Gambia)minorStrategic or Co-development PartnerStorage facilities partner in Gambia where Ultimate Oil and Gas Gambia stores petroleum products.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Vitol Group: The world's largest independent energy commodities trader, active across crude, refined products, LPG, and bunkering. Operates at much greater scale than Ultimate but competes for the same West African crude entitlements, utility supply contracts, and bunker fuel business.
• Puma Energy: A downstream-focused energy company active in fuel storage, distribution, and retail across Africa and Latin America. Overlaps with Ultimate's onshore trading subsidiaries in West Africa in fuel storage and into-country distribution.
• Trafigura: A leading global commodities trader with major trading flows in crude, refined products, and metals across Africa, Europe, and Asia. Competes with Ultimate on West African crude liftings and African downstream fuel distribution.
• Gunvor Group: A top-tier global independent commodities trader with major crude and refined product flows into West Africa, the Mediterranean, and Asia. Competes with Ultimate on crude liftings, utility tenders, and bunker fuel business.

Direct peers

• AOT Energy: A Geneva-based independent oil and refined products trader focused on Africa, the Mediterranean, and Asia. Highly comparable as a mid-sized physical trader serving African utilities, refineries, and bunkering customers with similar product mix.
• BB Energy: An independent physical oil trader headquartered in London with strong West African, Mediterranean, and Asian trading flows. Directly comparable in scale and product mix (crude, fuel oil, gas oil, gasoline) and competes for the same African utility and refinery customers.
• Sahara Group: An Africa-headquartered energy and infrastructure conglomerate (with subsidiaries like Asharami Synergy and Sahara Energy Resources) operating across upstream, trading, and downstream. Overlaps with Ultimate on West African crude procurement and refined product distribution.
• Matrix Oil and Gas: An independent West African-focused crude oil and petroleum products trading house. Co-winner on the same NNPC DSDP contract as Ultimate, with overlapping Nigerian crude sourcing and refined product distribution into West Africa, Middle East, and South Asia.
• Mercuria Energy Trading: One of the world's largest independent commodity traders of crude oil, refined products, and metals. Listed as a co-winner of the NNPC DSDP contract in 2019 alongside Ultimate Oil & Gas, making it a directly comparable crude and product trading peer operating into West African markets.

Regional players

• Oando Trading DMCC: Nigerian integrated energy company with a Dubai-based trading subsidiary trading West African crude and refined products and distributing fuels into West Africa and Asia. Direct competitor on NNPC-linked crude and African refined products flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ultimate-oil-gas

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ultimate Oil & Gas